Apple CFO sees Q1 gross margin at 31 pct

SAN FRANCISCO (Reuters) - Apple Inc's (AAPL.O: Quote, Profile, Research, Stock Buzz) gross margin will be about 31 percent in the fiscal first quarter, down from the 33.6 percent it reported in the fourth quarter, Chief Financial Officer Peter Oppenheimer said on Monday.

"We first of all had a higher top line, which always helps margins and yes, we had a favorable commodity environment and better product mix," Oppenheimer said of the fourth-quarter's gross margin.